Tax and Flood Service Contracts. The Servicer, at Owner’s expense, shall cause each First Lien Mortgage Loan which is transferred to the Servicer for servicing, to the extent not covered by a Tax Service Contract and/or Flood Service Contract to be covered by (a) a Tax Service Contract and/or (b) a Flood Zone Service Contract. If any such First Lien Mortgage Loan is missing a Tax Service Contract or if any such Second Lien Mortgage Loan is missing a Flood Zone Service Contract, as applicable, at the time of the Service Transfer Date, Servicer shall place such Tax Service Contract or Flood Service Contract, as applicable, and shall be entitled to the fee associated with acquiring such contracts as set forth in Exhibit 14; provided, however, that Servicer shall provide written notice to Owner of any such Tax Service Contracts or Flood Service Contracts that Servicer determines to be missing as of the Servicing Transfer Date.
Appears in 3 contracts
Samples: Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Oa1), Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2), Flow Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab3)
Tax and Flood Service Contracts. The Servicer, at the Owner’s expense, shall cause each First Lien Mortgage Loan which that is transferred to the Servicer for servicing, servicing to be covered to the extent not covered by a Tax Service Contract and/or Flood Service Contract to be covered Contract, by (a) a Tax Service Contract and/or (b) a Flood Zone Service Contract. If any such First Lien Mortgage Loan is missing a required Tax Service Contract or if any such Second Lien Mortgage Loan is missing a required Flood Zone Service Contract, as applicable, Contract at the time of the Service Servicing Transfer Date, Servicer shall place such Tax Service Contract or Flood Zone Service Contract, as applicable, and shall be entitled to the fee associated with acquiring such contracts as set forth in Exhibit 14; provided, however, that Servicer shall provide written notice to Owner of any such Tax Service Contracts or Flood Service Contracts that Servicer determines to be missing as of the Servicing Transfer Date.
Appears in 3 contracts
Samples: Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (Pennymac Financial Services, Inc.)
Tax and Flood Service Contracts. The Servicer, at the Owner’s expense, shall cause each First Lien Mortgage Loan which that is transferred to the Servicer for servicing, servicing to be covered to the extent not covered by a Tax Service Contract and/or Flood Service Contract to be covered Contract, by (a) a Tax Service Contract and/or (b) a Flood Zone Service Contract. If any such First Lien Mortgage Loan is missing a required Tax Service Contract or if any such Second Lien Mortgage Loan is missing a required Flood Zone Service Contract, as applicable, Contract at the time of the Service Servicing Transfer Date, Servicer shall place such Tax Service Contract or Flood Zone Service Contract, as applicable, and shall be entitled to the fee associated with acquiring such contracts as set forth in Exhibit 14; provided, however, that Servicer shall provide written notice to Owner of any such Tax Service Contracts or Flood Service Contracts that Servicer determines to be missing as of the Servicing Transfer Date9.
Appears in 3 contracts
Samples: Flow Servicing Agreement (PennyMac Mortgage Investment Trust), Flow Servicing Agreement (PennyMac Mortgage Investment Trust), Flow Servicing Agreement (PennyMac Mortgage Investment Trust)
